Held for Sale

In January 2020, we entered into a definitive agreement to sell our scil animal-care business (“scil”) to Heska Corporation (“Heska”) for a purchase price of $125 million in cash, subject to customary closing adjustments.

On April 1, 2020, we completed the divestiture of scil to Heska. The transaction closed under an amended purchase agreement which reduced the total consideration paid to us from $125 million to $110 million, or approximately $100 million net of deal-related fees and other transaction items. In conjunction with the price adjustment, an approximate $10 million escrow fund that was to be funded by Heska and used as collateral for a period of up to 18 months for any potential claims tied to the transaction was eliminated.

scil's major classes of assets and liabilities were as follows:



	March 31, 2020		December 31, 2019
Current assets	$	23	$	24
Property and equipment, net	16		15
Goodwill	2		2
Other intangibles, net	4		4
Investments and other	3		3
Assets held for sale	$	48	$	48

Current liabilities	$	17	$	18
Other liabilities	3		3
Liabilities held for sale	$	20	$	21

The sale of scil resulted in a gain of approximately $74 million which will be recognized in the quarter ending June 30, 2020.